everybody. that will do it for closing bell. hope you'll follow me on twitter and google plus. don't go anywhere, fast money begins now. live from the nasdaq markets in new york city's times square. this is "fast money." stocks kicking off november in rally mode. the nasdaq and s&p 500 rising more than 1% a piece. that's the first time that happened since mid september. better than expected data from china, the u.s. helping to give a boost with stocks across the board. and tech, a bright spot in today's session with notable moods. it's interesting, you go from the month of october where tech was the worst performing sector and moved into november and how quickly things changed. >> it felt like the first of the month, i'm not making light of it, i think that's a lot of what's going on. tech clear, microsoft performed well. intel to me, the most

interesting one. finally catching a bounce for no apparent reason. here we are again at 1425, give or take, that was support on the way down a couple times. it's resistance on the way up. and here we are right now, my inclination is to stave this move, we'll know more in 12 to 14 hoyers from now. >> the semiconductor up 3%. it's almost as if people forgot about the forecast for the demise of the pc and said the month of november, we're going to go in, they're cheap, they're beaten down, and that's where the value is at this point. >> we've seen a big rotation trade. the most encouraging aspect of what's happened in the market over the last two weeks, is the fact that we lost the leaders. in their place, we've seen intel, microsoft, we saw the industrials very strong today. we've seen rotation that hasn't hurt the market, even as the leaders have gotten hit. >> another really strong retail, that was sort of surprising. especially since you could have

seen hiding of what they think will be the results of sandy. we didn't see that, though. very strong across the board. >> simon, where are you buying tech today? >> we're going to talk a little bit about microsoft. we're making a move out to staples, moving more into cyclical. >> what are we seeing in the options, curious in terms of technology? >> it was a quieter day again, second straight day it's been somewhat quiet. we saw more coal buying. there was a lot of activity in bank of america. technology. microsoft and intel were the two active names. the rally surprised me, but i think it's encouraging it's different names leading us without the big leaders. >> more than 3% in the past two days, simon baker down here on the desk could call the trade last week, in fact. it's up more than 5% since that call was made. you're taking profits at this point? >> no, i think we're adding on -- they're really underestimated here, really

strong product cycle going on here. it was a -- to develop this conference earlier this week, they gave out the tablets, the iphones, the feedback is really positive, they have 400,000 users compare that to 150,000 users on the iphone side. 1.5 million people a day are upgrading on windows 8. i think it's going to be a winner, it's long, and adding to opposition here. >> where are you on microsoft, because steve bomber, we found the developer's conference out. a lot of bullish updates, a lot of people who were operating to windows 8. we had this bullish morgan stanley note out today. the bullish scenario would be for them to hit $34 a share. $37 is the price there. what were you seeing today? >> well, the top three most active options were all calls on microsoft. so i think the options market, despite what ennis refrned earlier, was a little lighter

than the 30 day moving average, but certainly better than yesterday. microsoft was range bound for a while, right? at one point i was thinking of selling strangles on the name. i will say, if i had to favor a direction, it would be to the up side. i actually have also been looking at doing the windows 8 upgrade myself and looking at their tablet. i think they have an existing strong base, and the evaluation really was not that expensive to begin with. if we're starting to see that rotation on the product side, could be a compelling story. >> the question i come to is, can you be a believer in microsoft and still believe that pc's are in a secular decline at this point? >> i think you -- yes. i mean, they are in a secular decline, we know that for sure. the valuation is cheap here. i don't know if it will ever get fairly -- i woulding delighted if we make it halfway to there, but at this valuation, and i know everyone's like, you can't count the cash, maybe they do

something with that cash, maybe we see something -- >> something not stupid. >> there you go. >> i think it might be. >> that's thinking harvard girl. >> it may be a special dividend between now and year end. $60 billion in cash. >> uncertain dividend tech rate. >> that hasn't been the case for a long time? >> no, to answer -- the stock, the performance of the stock is priced in this pc decline, i think microsoft is diversified enough where the stocks should be higher based on some of the other businesses they're involved in, so i'm in the simon baker camp, we've been in that camp for a while, you're not going to get buried on the down side, we said that a number of times, and i still think there's some significant upside here, stock you can own and hang out in. >> tech may have led the rallies today, there is one stock that is left behind, apple, it closed essentially flat on the day, even though the nasdaq managed to inch higher 1.4% gain in fact. and it seems like the opposite

on apple is bad news, unless it's going to knock the socks off. >> i think today is a great demonstration of the ownership in a name matters for the name going-forwa going-forward. for apple, for example, i think everyone's on that bus. everyone's gotten on that bus for the last few years. in contrast, you have names like intel or microsoft that have been thrown to the wayside, as a result, you have far more investors that need to buy the stocks on a rally. there are far more sellers there. >> i think scott, it's a big deal. the more you look into it. this last upgrade of the iphone, it was evolution airy. scott had 135 patents outstanding. it's a consumer company, they have to keep revolutionizing. i think it's an interesting point right now. >> one point i would add to that, strategically speaking this is a huge departure in terms of what cook is doing here. in '97, when jobs got online, he said, we're going to have one

good product in each product area. the most recent announcement is saying, we're going to be a potpourri company. that's concerning to traders. >> with that understood, if you're looking to trade the stock, it held 6/10 on the down side. on the way back up, if you notice, that's where it stopped and traded back down. i would use sort of 6/10 as a pivot to get back in the stock, and on the down side i think you're looking for an entry point. we're going to go there, the 575 level, i think people talk about. >> 575 if it dips, that's where you get in. it breaks out again toward the up side. >> you mentioned the lack of visibility in terms of a big new product category. is that a concern? do you think that's what's holding the stock? >> i think there's some of that. it's going to be what's next. and so it's -- you know, it

really gets no respect. no love on the valuation side at all. >> let's get back to the markets here overall. the dow, s&p 500 performing. their best in two weeks, their second day post sandy closures, how are top firms coping with being back in business after the storm. let's bring in shawn matthews. always good to see you. >> good to see you. >> your firm is located in midtown manhattan, i'm sure many of your staff have homes in new jersey and long island and the surrounding areas, we may be hit with power outages, et cetera. how have you been able to get your staff into work? >> i think today we probably had about 70% of staff, which is pretty good. tomorrow will be a little bit better. next week we'll be fully operational. right now, it's a slow market environment, some people are working from home and that's perfectly fine. >> do you think it's a slow market because of the news flow and the time of year? or because so many participants aren't able to get into their desks? >> i think it's partly the

participants not getting to their desks, you've had a big runup in the fixed income world. spreads are pretty tight. we're seeing some volume, but it's a little bit muted. certainly it's due to the weather. >> what do you think about -- i know you talk -- i'm sure you have meetings in the morning. what's your view in the broader market as we head into this election on tuesday. the s&p 500 is at a level where we could clearly go either way. i think it breaks out above 14 and a quarter. i think 13.75 is still on the cards. what do you think on the desk there? >> i was pretty surprised. you look at short term volume collapse today, it got repriced. so it's telling you probably the market's going to go higher at this point in time. really, when you look at it from a long term perspective, i think the market is relatively cheap. it's not drastically cheap, but it's a buying opportunity here. the fixed nuk market in general, have you rates at low levels. you've had spreads come in significantly over the last six months. so everyone's trying to look for the next trade, and certainly, i

think from a relative value perspective, people want to look into the equity market. >> fixed income trading has been a lot stronger than equity trading. we saw that in the results. you see that changing any time soon? >> i don't think it's going to change any time soon. you look at the flow of funds coming into the space. you have a curve environment, you'll have the aspect associated with the marketplace as well. i'd say in the next year or, so you'll start to see the rotation, where people will start looking to get more involved into the equity space. you'll have a true rotation as opposed to rotation and then flows come in and out of marketplaces. you'll see a true sector rotation, probably in a year. >> great to speak with you many thanks for your time. >> thank you. next, chesapeake energy, a company run by one of the nation's most controversial ceo's. and hurricane sandy's aftermath,

how the hurricane is changing the oil trade. fast money is just about a bull market. >> in the blank of an eye, everything changes. >> we're doing what we do for a living, and all together as a team, we all come at it from a different perspective. >> it's all about moving the odds in your favor. >> it's really what drives out the value of the show. >> i am fast money. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use, it's the ultimate combination of speed, small size, and low-cost printing.

with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade.

welcome back to fast money. chesapeake trading lower after reports the company lost $2 billion on the gas prices being lower. earnings were in line while 2.7 billion on the top line was better than expect on revenues. third quarter oil production nearly doubled. but nat gas did too. it was up 19%. despite the fact that they caught up on the number of rigs. >> eps is better, revenues much

better. production, okay, better, this is -- wasn't good enough for the shorts to cover in this name. and my sense is, we saw initial pop in the stock, now we see it lower, i think it continues to go lower from here. i think the shorts will press this thing. they're still -- i mean, karen can speak to this. aubrey still needs to prove himself, and i don't think this quarter did it. >> prove himself as what? he's done a fine job proving exactly -- you would be a controversial ceo. what's the controversy, there's nobody like him in terms of self-healing and that kind of thing. >> he still built a successful company. >> he did. yes. however, i don't think that gives him the privilege to usurp the shareholders assets, would be my take on it. maybe others don't share that. >> they got a massive debt load on the company too. that holds us back. i think they're names we play in the space. because of the personalities

too. >> would you short it? >> no. >> i think the whole sector, actually is cheap. so it doesn't really lenned itself to shorts, but i agree with karen, i would go with apache would be my favorite. >> gas prices, will they move higher post sandy? let's bring in paul from deutche bank. this all comes into light because of the long gas lines we're seeing, the acute distribution issues. not just getting gas where it needs to be, but having the electricity needed to pump that gas as well. walk us through the impacts here on the oil complex. >> well, it's clearly a demand impact primarily, the northeast had one is what we call it, pad one, which is northeast of the u.s. is about 5 million barrels a day of demand. that's on a u.s. total of 18 million barrels a day, it's a huge part of the market. within that, gasoline demand is

about 40% of u.s. demand is up here in the north east. i should say 35% of gasoline, about 40% of jet fuel demand and it's a region that's import dependent whether it's from the gulf coast or europe. i think we believe the median term impact will be on the demand side and will be negative for prices and margins, both of crude oil and refining margins and ultimately gasoline prices. but as you say, with the panic that you get here on shortages, you get an enormous boost in demand. everybody fills their tank as soon as possible. and that, of course, in the short term causes prices to spike higher, that is a major concern. >> you've been overweight refiners for a couple years, you think the earnings coming up are concerning? >> yes, i think when the margins get to a given point, california was a good example, when prices

get so high, and margins get so high, at a given point, you have to be brave enough to step back and worry about the next move being down. seasonally that would happen anyway, typically at this time of year, the main demand season being summer is over, we have easier gasoline regulations, the specifications goes to winter grade which is easier to make. it wasn't the most heroic call to go neutral. we did get this unfortunate and tragic additional issue with refining, which, of course, is the tragedy we've had over the past few days in the northeast. >> let's talk about one of the names on your coverage list. phillip 66 is one of the names we talked about yesterday morning. it looked like a fantastic quarter, the stock had a tremendous run. we're right around all time highs, to me, valuation is very reasonable here. does psx have room to run from 47 and a half? >> yeah, we love it. we think 'a good story. every independent refiner that

you can own, and your marathon petroleums and holly frontiers have been reports today. every one of them is ultimately at play on atlantic basin oil market. to that extent, the northeastern situation is obviously a big part of the atlantic basin oil market. the exception to that rule is phillip 66. you have pretty much the number one chemical -- global chemicals company within that psx ticker. and you have a growth ngl gathering. natural gas liquids gathering business. which gives the company more of a play on the unconventional oil and gas revolution that we're seeing here in the u.s. than just a pure oil revolution player, which is what all the other refiners are. so with the free cashflow they're generating, with the management being so in line with the shareholders, yeah, we like

that one. >> let's get some after hours action here. you're seeing a big move stocks up now to 115 or so. julie borsen is monitors the conference call, with more on this. >> reporter: that's right, melissa, linkedin shares look like they're up 8% now on stronger than expected results, stronger even to linked in projections. on the earnings call which i'm listening to right now. one is international growth, saying that more than 70% of linked in's new members were out of this past quarter were from outside the united states. he also pointed to mobile growth, saying that this top quarter, 25% of unique visitors came from mobile apps, up from 13% a year ago. he also said they started to test ads on those mobile apps. they see that as an area of growth. now, all three of linked ins business lines are moving fast, recruiting tools through

revenue. advertising grew revenue 60%. and premiums up 70%. i'm continuing to monitor. back over to you. >> the premium subscriptions by the way, they offer more benefits to the subscribers who pay more for access. total quarterly revenues. nice gain when it comes to charging people access. >> i think linked in is showing to be the best social media names to own within the social media spaces, they've gotten beaten down really badly. the biggest thing for them going-forward is going to be competition. facebook has talked about doing a jobs board. i think that is the only point of concern going-forward for them. >> when the business is commoditized, that's when you pull the rip cord. as you said, this was a good quarter, it was a solid quarter, to me, it's still the best social media or networking company out there. and valuation in the stock is still relatively fair. yeah, we'll say again, lmkt is

relatively fair. >> it's fair for a 179 of 188 is fair? that's the first time i've ever heard that come out of your mouth. >> it is true. >> you haven't accepted me as a friend on there yet. i sent you a , and you haven't accepted. >> i haven't done social media for years. it's not because i'm snubbing you, i don't participate in that any more. >> but she will car pool with strangers. >> to get over the bridge, yeah. sandy's devastation keeps spreading. we're taking stock of the damage, and just how much it could cost. super storm sandy tore up the jersey shore, few places got demolished like seaside heights. we'll show you what remains on the other side of this break. [ male announcer ] you are a business pro.

monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro.

you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.

officials continue to assess the damage in hurricane sandy's wake across the east coast. and it looks like the rebuilding efforts could stretch for weeks and months. today our own kayla tashi got a look at seaside heights, new jersey. >> reporter: you can only get to new jersey's barrier islands,

which bore the brunt of sandy's wrath by emergency vehicle. and today police chief took us out to seaside heights, an iconic place that now post storm remains unrecognizable. we arrived at seaside heights landmark casino pier. once home to roller coasters and carousels that are now in the ocean. the boardwalk is shredded and in the sand. down the beach, wreckage from the fun town amusement pier like a carnival junkyard. some of the real estate further inland did appear in tact. though most of them swallowed six feet of water or more. that's a long rebuilding process to begin for the community of seaside heights, back to you. >> how much will sandy cost. one catastrophe modelling perm is doubling its damage estimates. let's welcome bill keo of

equicat. the insured loss goes up to as much as $20 billion with the economic damage going up to as much as $20 billion. >> our first forecast was preland fall, before sandy made land fall, we thought we had a good understanding of what was going on, there were a few surprises. one of the surprises was that the storm surge was higher than we expected. we already expected it to be as high add 12 feet in new york harbor. that turned out to be 14 feet. another thing that happened from the insured loss is that at least three states so far, new york, new jersey and connecticut have declared that the hurricane deductibilities will not apply. and the hurricane deductibles can be between 2 to 3% of the value of the structure, because the deductibles won't apply, you'll have a normal fire deductible that will increase the insured loss. >> at the same time, bill, there

were some moves by the governor of new jersey, new york and connecticut to deem hurricane sandy a tropical storm, which would make the dedetectibles lower, how does that impact the equation here? >> it definitely drives the insured loss up. it takes the loss away from the homeowner and transfers it to the insurance company. another thing that's driving the increase and the loss is what we view as the transportation lines being down and flooded. a lot of electricity out and people just unable to get to work. it appears that will last quite a long time, some of the estimates we're hearing for getting power restored is several weeks. so typically, when we see a storm in the northeast, maybe you have the power out for a week. but we're hearing some estimates of two, three weeks even longer in some areas. >> i think there's some business

interruption insurance in there. how does that go up every day that there isn't a return to normalcy? >> you know, i don't have a daily number for you. but it certainly -- you know, totals in the billions of dollars. some of its insured, some of it is not insured. but that is the uncertainty. if you look at our estimate, it's a broad range to talk about 30 to $50 billion of economic loss. that uncertainty between the 20 and 30 is really about, how long is it going to take for us to get life back to normal? >> i'm sure this is a moving target as the situation unfolds. the forecasts will update as you get the information. but in terms of taking a look at for instance what a city or what a state can do to really achieve the most leverage in keeping those damages lower, in your view, what is that? is that getting public transportation back up and

running? what can offer the most bang for your buck here? >> it's all about infrastructure and it starts with electricity. everything that we have operates on electricity. so getting that foundation done is most important. that will help us rebuild the infrastructure. so in new york city, it's clearly the subway lines. when we look at the loss, we're estimating that about a third of the loss over all the states that were affected. a third of the loss is in new york state and most of that is in new york city. and before a third of the loss is in new jersey. new york and new jersey are definitely bearing the brunt of this event. it affected many states, sixx states were pretty badly damaged, about 12 that were affected overall. these two states are the ones that are bearing the brunt of the damage both in short and economically. >> thanks for your time. bill keogh at eqecat. you immediately think of the insurance companies, at $5

billion which is the upper range of the previous estimate. it was widely seen on the street as being absorbable by the insurance industry. at this point how will it impact the stocks? you take a look back at the impact on pnc, property and casually stocks after past disasters and you take a look at andrew and ka dreen intrina. afterwards, after each of these disasters, pnc index sold off. after that, they recovered. in fact they were able to achieve new highs after that. the other thing that's great for this sector is that they enter the storm in the solidly technical position. they were above the 200 moving average. this could actually be good. we don't mean to be crass, this is a tragedy. and it's bad. if consumers have to pay higher insurance rates. from a shareholder standpoint

this could be good. >> i saw that too, travelers today was down about a percent. that's a stock that's paying about 2.6% dividend. all states to me, is the better one, look at the quarter they put up yesterday. crushed it, not as good a dividend, i think 2.2%. this is stock that sold off down 2.5 today. if you look at all-state, it's been a monster stock. you may get another day or two on the down side. they will pass on their costs, and these stocks in my opinion will be higher in the foreseeable future. >> i think it's very much a viable dip. stocks are down 8% as a whole, i think all state. if you don't own the insurance companies, it's a good time to get in. >> i mentioned chubb yesterday, i haven't bought it yet, i'm going to buy pretty soon. next, we're tracking all the up arrows, including a move in starbucks. which retailers get hit the

hardest by hurricane sandy. later on, our traders get ahead of the big jobs report. [ male announcer ] tradins like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account.

starbucks pulled in a triple shot grande extra hot latte. 3.36 billion in revenue, was a little light. store sales were up 6%, despite slowness still in europe. up 7% in the u.s. the company is boosting its full-year outlook. melissa? >> how do you know whey drink? >> thanks for that update. a big part of the success for the quarter was couponing. which was interesting. daily treat receipt for consumers to go back in the afternoon, and they also had a promotion on living social. 1.5 consumers bought that. it seems like couponing is back in style, and even helping starbucks. >> what's impressive is their global sales growth, as many other restaurants like mcdonalds have shown us, international sales have been a weak market. starbucks showing strength in a

weak market is impressive. our friend dan made some calls today. >> quite a stark contrast to its previous quarter that reported where it missed and the stocks fell offsharply. yeah, i'm not a big fan of it. >> why? >> you can see three starbucks. i think there's a cannibalization going on there. in that space, i like duncan doughnuts. >> the sales growth is at 7% in the united states. it's hard to say it's saturated in anyway. >> it's amazing, there's one on this corner and that corner. >> two blocks apart, basically. >> people say that about mcdonalds for a long time, it was saturated. >> and now maybe it is? >> i don't know if it is now. i left so much money on the mcdonald's table, what can you go. c'est la vie. >> many companies posting 12r07ker than expected gains in october. looking ahead, some see a sandy hit likely in november. a trade some of these losers.

what was in your focus today? >> the biggest one was macy's -- i mean, very impressive there. it was not just the same store sales they announced which was up slightly, the guidance, the q 4, we were saying earlier at the ton of the show. i would thought we hang back, why do you need to guide up, given what's happening in new york and 34th street was somewhat affected. the guy we should hear is not expensive. even with the stock being 6% today. i don't think you need to run out tomorrow by macy's, if it pulls back, below 40, i would be a buyer there. >> 20% of the stores are in the hurricane area. it's amazing macy's was able to post strong numbers. it does not affect the guidance here. >> mastercard reported eps revenues, light, stock sold off. i think visa and mastercard still if you want to be in the retail space, especially after what's transpired, those are the two best names. >> i think the best name is

amazon. can you go out there and shop. >> faulk about valuations, here we are talking amazon, you think it's the best one in the retail space. what's macy's trading at? >> well, 12, 13. 213. >> minor difference. >> the price protection. >> we like protection. >> mike? >> i think i've said many times, i just don't understand the valuation of amazon at all. i think jeff gets a free pass. i think in the mastercard visa conversation, if i was going to look at a name, i like ebay potentially. they have their pay pal business. the amazon valuation doesn't make any sense to me, much like the one at linked in doesn't make sense to me. if the stocks grow, you won't find me in favor. >> when apple announced the price of their ipad mini-the

kindle sold four times as many. >> they don't buy them. >> you have to wonder where their momentum is in this marketplace. yes, fundamentally, you look at it, and it's expensive, but you have to go where the momentum is. and it's very strong. it's executing very well, it's one of the best management teams in technology period. >> we have to move on, guys. friday, 8:00 p.m. eastern, tune in to hurricane sandy coming together. benefit concert to aid victims of the storm on the networks of nbc universal, including cnbc. guests include bruce springsteen jon bon jovi. all proceeds will be donated to the american red cross. >> it's one of the most crucial jobs numbers of the year, and one that could help determine the fate of the presidential election. find out what you need to be watching for tomorrow's jobs report.

discuss let's get to another earnings mover here. price line popping after hours. bertha? >> price line beating on the top and bottom line. third quarter earnings at 1240 a

share. 11.71 billion also well above. gross bookings were up about 25%. driven by hotels and rental cars. international booking growth was up 30%. it looks like the european business is now stabilized. as far as sandy. they think that's going to dampen business in new york, which is a key market for them. >> maybe the impact felt in the quarter. >> i actually didn't do anything. i looked in the -- to doing an options trade on the stock today. i stayed away, because i was concerned about europe. the stock was down 15% last quarter. but expedia and travelline is saying the business is looking better. a selloff back to 600, i think it's -- >> confirmation from expedia? >> yeah, their international bookings growth was up 25% off expectations between 10 and 18%.

it's a monster run after hours, it's not one i would chase. above 650. i believe the stock breaks out from a pretty well defined down trend. you have a little bit of a double bottom. i think 650 is your pivot point. otherwise, i'm in the camp looking for a pull back. >> while sandy's not expected to affect the labor department's payout tomorrow, it could have an impact on jobs and gdp in the future. drew, always good to speak with you. what's tomorrow's report, what are you expecting there? >> i think we're expecting what the markets are expecting, which is a mediocre report somewhere around 120,000 jobs. we are looking for a slight uptick in the market rate. i don't think anything we're going to see tomorrow is going to be that exciting for us. >> nothing to sneeze at, but nothing so great for the market. in terms of sandy's impact, how much of a wrench could that be in this recovery? >> well, i don't think it's a

long term wrench, we're also not going to get the long term gain out of it. just because you destroy something doesn't mean you get a net benefit when you fix it. if that was the case, we could go around breaking windows and beating up our houses and claim we're in a massive recovery when we fix everything. i think if you look at new jersey, for example, the unemployment rate in new jersey is close to 10%. and new jersey's a state that's seen construction jobs fall by a full third. so those construction workers obviously are going to have some things to do, assuming they're still in the state. and assuming that there's construction work to be done. which given that i live there, there's going to be some construction work that needs to be done. >> everybody's going to be taking a look at the data over the next few months. i'm curious, in past hurricanes, how long does it take to look through the numbers. soon will we be able to get a clean read on what the economy

is doing? >> i think you're probably talking december. you may be in to january, we'll see what the holiday effects look like. one of the positives is, the construction workers i was talking about, some of them have been out of work for a long time, if they're brought back into the labor force and paid a wage. it could make them a little more willing to shop for the holiday shopping season coming up. so how it plays out in the long run, probably a minimal effect. how it plays out in the short run, it will create a little bit of volatility and all the data, through year end. >> drew, good to speak to you. time now for pops and drops and movers. going to drop you. down 6%. >> stock has been an absolute monster. the october comps weren't great, disappointing. that's why it sold off. valuations are rich, i think the stock has another buck and a half to the down side. 55 bucks or so if you get there. the next leg will be higher from

there. >> we have to drop you for exelon. >> the ceo mentioned cutting the dividend, that's a big no no for a utility company. theyen watt to keep their investment grade rating, there isn't much of a choice for them. >> omnicare? >> the turnaround story is going smoothly. >> a drop today, down 4%? >> they reported earnings missed yesterday, fairly substantially, i think that caught a lot of people by surprise. the stock is fairly cheap. the momentum's against us here, it's starting to look tempting down around 32, $31. i think this may be a drop. >> that was up big yesterday, the filing was up 14%. people understood a little bit -- he's long on his options. he may not be there for long. >> abercrombie up 8%. >> huge move. this stock has been impossible to trade. this is a move that needs to be

saved. i believe they report earnings a couple weeks from now. you can probably -- with the tight stock, they're short against earnings. >> the move, 6%. simon? >> it's followed on a big move yesterday. came out with earnings yesterday. beat by a penny. the housing recovery, and also with the recovery down. >> up 3 purse. >> if you're inclined to believe the chinese pmi data, you would also include cat. this is another stock that looks cheap, if it starts to catch momentum, i like this too. >> pop for vise is a? >> i like mastercard a little bit better. they're making a little bit of headway. >> a pop, 5% to move ennis? >> it goes down better warm than cold. i'm still short. i wouldn't buy, but i'm certainly more nervous than i

was yesterday. >> cnbc's jack deangeles. >> the new york city marathon, is it on? the answer to that is yes. but is the risk worth the reward? we're going to be looking at the marathon by the numbers. coming up next. d to cost a fort. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use, it's the ultimate combination of speed, small size, and low-cost printing.

if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this.

hurricane sandy may have slowed new york down, but it's not stopping the city from running one of the biggest events of the year. jackie deangelis is here to tell us about the sunday marathon. >> the race is still on. it was a decision made by the mayor and the city in consultation with the nyrr. many are asking if the risk is worth the reward? this case. now, according to the new york times, last year's race had 47,000 runners. and generated about $340 million in economic activity within the city. but about 20,000 of those 47,000 runners are from other countries. that's a little less than half of the race. the economic benefit is going to be greatly reduced, depending on how many people don't show up for the race. there's concern about city resources being used on the race instead of sandy's aftermath.

the road runners paid more than $850,000 to city agencies including $107,000 to the police for services in 2010. yes, they are contributing to the cost. but is that the best use of man power at a time like this? kbloom berg did media briefings today, he won't be doing individual interviews at this time. i'll leave the question up to you guys, do you think they should have the race or not? >> so many new yorkers are up in arms, saying, this is going to help raise morale in new york city get the city back and running. at the same time, the police right now -- i don't know if you've been to lower manhattan, they have to direct traffic, make sure that everybody's safe. they have better things to do right now perhaps. i don't know, where do you stand? >> this is very hard for me. lost 50,000 people in this. most of them coming from other places, i understand what we've been through. but you know what, if the mayor

made the decision we have to go with it. no, he can't win either way. if he says no go, it's going to be more people up in arms. we made a decision, we have to stick by it. >> you are a displaced new yorker, you don't have power? >> yes, i have my mate rick come in from london to stay with me. he couldn't be more excited to be running. go for it. >> you would have done the ironman even with the sewer issues. >> i would have been devastated if they didn't allow us to do the swim portion of the triathlon, and they did. i understand. >> it's time to lift the curtain, reveal our trade of the day. what is it? >> the trade of the day is when you have undoubtedly heard of, gm, the trade of the day. now, normally i would try to do our own work, there's one analyst who's been great in this that's joe amatora. he's been neutral until a month ago where he said, that's it.

we have a couple good things coming up. he reiterated that today. what's good is, they have a new line coming out, within the next year, the k 2 xx, we'll see new trucks, new suburbans, that could really improve martins dramatically. with the last of the 900 line, still, north america looked pretty good. europe, they should be able to fix the bleeding there by 2015. that's good, help with some lower raw material costs, and valuation, of course. i always love that. for all those reasons, gm. am coulding up in the next hour on "mad money." cramer's exclusive with ceo. he's helping you stay diversified all coming up at the top of the hour. the long lines at gas stations on the east coast are a stark reminder of our dependence on gasoline. stick around, mad money is

coming up next 37 i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong.

tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab

tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research tdd#: 1-800-345-2550 and economist intelligence unit. tdd#: 1-800-345-2550 plus, i can talk to their global specialists 24/7. tdd#: 1-800-345-2550 and trade in my global account commission-free tdd#: 1-800-345-2550 through march 2013. tdd#: 1-800-345-2550 best part... no jet lag. tdd#: 1-800-345-2550 call 1-877-561-5445 tdd#: 1-800-345-2550 and a global specialist tdd#: 1-800-345-2550 will help you get started today. . back with the final trade, mike? >> risk reversal on microsoft. >> long intel. today's a breakout. >> 52-week high on yahoo. >> it's good enough for the trade of the day, it's still good enough three minutes later. es. >> sp is the ticker, right? >> right. >> we'll see you tomorrow